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Pbgc Fund Could Be Tapped

Discussion in 'Central States Pension Fund Discussion' started by lulu belle, Nov 6, 2019.

  1. lulu belle

    lulu belle Member

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    From Burypensions:

    Per P&I:

    Congress could tap the PBGC’s single-employer insurance program as a “quick fix” should the agency’s multiemployer program become insolvent, said Michael Kreps, Washington-based principal at Groom Law Group LLP during a keynote address Tuesday at Pensions & Investments West Coast Defined Contribution conference in San Diego.

    In a subsequent interview Mr. Kreps elaborates:


    The only way to solve this is for Congress to do something. Tapping the single-employer program, from a policy perspective, would be “horrible” potentially turning to the premiums paid by corporate sponsors to bail out the multiemployer program. That, in turn, could further accelerate the move of corporate plan sponsors to get out of the business of offering a defined benefit plan. When it comes to writing a big check [bailing out the multiemployer program, Congress] will be looking for pots of money.

    It could happen since Congress does not honestly consider consequences when legislating these days and PBGC did recently announce a surplus of a sort:
     
    jimmy g likes this.
  2. DCM_Doc

    DCM_Doc Well-Known Member

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    Thanks for the update. The more information we have will help us to plan and make decisions.
     
    jimmy g likes this.
  3. Jaloc

    Jaloc Well-Known Member

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    They can bailout banks why not pensions too!
     
    Crystal likes this.
  4. jimmy g

    jimmy g Kook

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    They should not have ever bailed out anyone or anything. How does continuing to do things wrong make it right?
     
  5. nassauotb

    nassauotb Active Member

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    please help obtain written response to
    complaint to hoffa by nassau otb cashier jackson leeds


    alleging violation of the ibt constitution by the may 8 2019 writing signed by teamsters local 707 president kevin mccaffrey and nassau otb president joseph g cairo. please call tom cornelius and hoffa's office to demand same.

    if anyone is interested in hearing the testimony of kevin mccaffre before the new york public relations board, let us know.



    ask for tom cornelius and president hoffa's office

    (202) 624-6800


    (202) 624-6800


    (202) 624-6800



    (202) 624-6800



    (202) 624-6800



    (202) 624-6800


    (202) 624-6800



    (202) 624-6800
     
  6. jimmy g

    jimmy g Kook

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    You can post without making it a response to a quote. I even started a thread for you, and you alone, somewhere, a long time ago...

    Here it is- follow the link!

    https://www.truckingboards.com/bb/threads/nassauotb.89242/
     

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